Sumitomo Mitsui DS Asset Management Company Ltd Increases Holdings in Newmont Co. (NYSE:NEM)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Newmont Co. (NYSE:NEM) by 29.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 140,151 shares of the basic materials company’s stock after purchasing an additional 31,898 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Newmont were worth $5,801,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of NEM. Compass Wealth Management LLC purchased a new position in shares of Newmont in the fourth quarter worth about $25,000. TFC Financial Management Inc. raised its position in Newmont by 242.2% during the third quarter. TFC Financial Management Inc. now owns 705 shares of the basic materials company’s stock valued at $26,000 after acquiring an additional 499 shares in the last quarter. Mizuho Securities Co. Ltd. purchased a new position in Newmont during the third quarter valued at approximately $26,000. Life Planning Partners Inc purchased a new position in Newmont during the fourth quarter valued at approximately $26,000. Finally, OFI Invest Asset Management purchased a new position in Newmont during the third quarter valued at approximately $30,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Argus cut Newmont from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. Scotiabank cut their price objective on Newmont from $50.00 to $43.50 and set a “sector perform” rating for the company in a research report on Wednesday, February 28th. Royal Bank of Canada cut their price objective on Newmont from $45.00 to $40.00 and set a “sector perform” rating for the company in a research report on Thursday, February 8th. National Bank Financial restated an “outperform overweight” rating on shares of Newmont in a research report on Monday, April 8th. Finally, Jefferies Financial Group started coverage on Newmont in a research report on Thursday, February 29th. They issued a “buy” rating and a $38.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Newmont has an average rating of “Hold” and a consensus price target of $50.89.

Newmont Stock Performance

NYSE NEM opened at $39.02 on Monday. The stock’s fifty day moving average is $34.82 and its two-hundred day moving average is $36.85. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.25 and a quick ratio of 0.98. Newmont Co. has a fifty-two week low of $29.42 and a fifty-two week high of $50.18.

Newmont (NYSE:NEM) last released its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.01). The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.44 billion. Newmont had a positive return on equity of 6.21% and a negative net margin of 20.95%. The business’s quarterly revenue was up 23.7% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS. Equities analysts forecast that Newmont Co. will post 1.98 earnings per share for the current fiscal year.

Newmont Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 5th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.56%. The ex-dividend date was Monday, March 4th. Newmont’s dividend payout ratio (DPR) is presently -42.02%.

About Newmont

Newmont Corporation engages in the production and exploration of gold. It also explores for copper, silver, zinc, and lead. The company has operations and/or assets in the United States, Canada, Mexico, Dominican Republic, Peru, Suriname, Argentina, Chile, Australia, Papua New Guinea, Ecuador, Fiji, and Ghana.